BAKU, Azerbaijan, December 1. The Baku Stock Exchange (BSE) held an auction for the placement of unsecured paperless bonds of Azerbaijani 'MJ Financial Services' non-banking credit organization (NBCO) worth 750,000 manat ($441,192) with a circulation period of 18 months on December 1, Trend reports citing the BSE.
According to the exchange, one investor submitted one bid during the auction.
The annual interest rate is 13.5 percent, and interest payments to investors are made every 90 calendar days.
The placement underwriter is Unicapital Investment Company CJSC.
Bonds of Azerbaijani 'MJ Financial Services' NBCO with a total value of 750,000 manat ($441,192) were listed in the standard market segment on October 18, following the decision of the Listing Committee of the Baku Stock Exchange.